GDA looks at...
However, it has not yet been confirmed whether UPSIDC would want to change the land use of industrial to residential or commercial. UPSIDC land utilisation at present consists of either operational or sick units. GDA or the Delhi Metro Rail Corporation (DMRC) have to first undertake a survey of properties falling along the Metro alignment route, say sources in UPSIDC.
Will the authority, however, be able to recover the money spent on the construction of the Metro corridor by allowing mixed land use in the defined influence zones? The present cost of the Metro stands at ₹ 2,210 crore. Of this the Union government will contribute almost ₹ 402.4 crore while the Delhi Metro Rail Corporation will contribute ₹ 328 crore. The remaining ₹ 1,480 crore will be be shared by different UP agencies such as GDA, UP Avas Vikas Parishad and the UP State Industrial Development Corporation in different proportions.
“We are already charging Metro cess from areas that come under the influence zone to meet the construction cost of the corridor,” say GDA sources, adding they can only hope to realise the cost of construction once it’s clear how many would be interested in availing of extra FAR and going for mixed land use near the Metro influence zones (that involves payment of fees but is voluntary).